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The Price of Time in a World Without Interest | Edward Chancellor

Hidden Forces

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The Origins of Central Bank Interest Rate Targeting

When did they get into this practice of targeting rates? And then when did they get to this practice of stating their targets? And then eventually providing additional guidance to let market participents know where those rates will be. What are the origins? I'm curious about this. It's not something you really go into in the book, but just given the topic, and given how much you've read in your life, wouldn't be suppros if you have a pretty good, readily available answer.

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